New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-06-27
THE MORAL OF THE DISASTERS.

There are thousands of men to-day who have
been ruined during the past week, or have
| seen their resources materially impaired by
the financial disturbances in Chicago, CinciD
natl and New York. AL these men will join in
| unmeasured dcnunciation of the dishonesty
| disclosed in the management OF the Fidelity
Bank i'm the conduct of the wheat and coffee
corners, ard in the circulation of false rumors
to break the stock market. 1t is true that the
people they denounce were guilty, and If not
criminal in the eye of the law, as some evi.
IDENTITY were deserve the severest reprobatiop
for their dishonest conduct. But it is proper
time to reflect that those who were sufferers
also in most cases have themselves to thank
for their misfortunes, and many of them were
not a bit more honest or worthy OF success than
the sharpers they dcnouncc. There are eX-
ceptions; bameless and honorable men who
suffer through no fault Of their own. But
little thought will make it clear that most Oh
the sufferers deserved no better fate
The most numerous class Of sufferers were
those who had bought, so-called, in the various
bucket shops and kindred gambling houses.
These persons did not actually buy anything
They we're merely betting on prices They
believed they were betting on certainty, and
would win the money of other persons less
shrewd or less well-informed Their hope was
to get something for nothing to snatch the
wealth of others without any labor OF their
own. The plain truth is that these persons
deserve their losses. The so-called business
they do keeps alive the bucket shops and other
gambling rooms. in which the proprictors Wit
ually bet against their customers and thus
~ta 1nn Inr
prices because the large majority OF the
| Glands" always bet on an advance. This az
cregation of thousands of bucket shops through
out tho country, all desperately working to
break market, has a vast power. The men
interested. many of them entirely INSCRIPTIONS
resort to all sorts of methods, honest or dis
honest to snatch the money Of their customers
by causing n sudden decline, and the circua
ton of false reports is but one of the many
dishonest means constantly employed.
The spectators in the various exchanges, who
bought no property but wore merely betting
on prices, were not morally different In any
resnect from those who made their bets on o
smaller scale in the bucket shops. These men
wanted TO get the wealth of others without
labor. Others got their wealth without labor.
There is no occasion for either to complain
The stockholders and dcpostors in the gam
bling bank at Cincinnati form numerous
class, and among them were many no doubt.
who were blamelcss and deserve hearty sym
pathv. But there were others who knew per-
fcctly we'll that no bank could offer the cxtraor-
binary inducements this one did, if 1T meant
to do legitimate banking business. They
knew that they must be taking shares in gam
bling or robbing operation of some sort, there
fore and those who knew enough of business
methods TO understand that fact deserve moth
| ir.g better than the fate they met.
| 1t is well in such times as these to remember
that this gambling spirit, which sudden In
fation of the currency always fosters, and
which so often dstsirbs all industry in this
country, is essentially dishonest 1t aims TO
get the property of other people, not by honest
industry which produces anything OF use to
mankind; not by any of the services which
| legitimate merchant banker renders. but by
good luck. The men who take these chances.
hoping to get the money of Others without pay
ing an equivalent, merit no commlseration
when others get their money without any equiv
| aout